Brexit Day 2: British tech firms consider relocation

Only one day in and already there are reports that Britich Technology firms are considering re-location as an option following the shock Leave vote on Thursday.

The cited reasons being:

Loss of access to talent if people from the EU can no longer work in Britian without a visa.

Loss of access to the single market.

Regulation. At the moment a single set of regulations apply across the EU so if your regulated in the UK, your regulated in the EU.

“This is likely to affect regulation and the movement of talent, two massive issues for business. The two main benefits of being part of the EU are access to talent because of the free movement of labour and the fact that you can ‘passport’ regulation so if you’re regulated in the UK, you’re regulated across the EU. We don’t know what’s going to happen with either of those.” - Taavet Hinrikus, the chief executive and co-founder of foreign exchange service TransferWise.